DTE Energy 2012 Annual Report Download - page 37

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Table of Contents
CORPORATE AND OTHER
Corporate and Other includes various holding company activities and holds certain non-utility debt and energy-related investments.
The 2012 net loss of $47 million represented a decrease of $70 million from the 2011 net income of $23 million. The decrease resulted primarily from a
income tax benefit of $87 million related to the enactment of the MCIT in the second quarter of 2011, partially offset by lower interest costs.
The 2011 net income of $23 million was an improvement of $95 million from the 2010 net loss of $72 million. The improvement resulted primarily
from an income tax benefit of $87 million related to the enactment of the MCIT in the second quarter of 2011 and lower interest costs.
See Note 12 of the Notes to Consolidated Financial Statements in Item 8 of this report.
DISCONTINUED OPERATIONS
Unconventional Gas Production
In December 2012, the Company sold its 100% equity interest in its Unconventional Gas Production business which consisted of gas and oil production
assets in the western Barnett and Marble Falls shale areas of Texas. The properties in the sale included all of the reserves on approximately 88,000 net acres
near Dallas, Texas. The sale resulted in gross proceeds of approximately $255 million, which resulted in a pre-tax loss of approximately $83 million ($55
million after tax).
The activity of the discontinued Unconventional Gas Production business is shown below. The amounts exclude general corporate overhead costs, and
the related tax effects, and no portion of corporate interest costs were allocated to discontinued operations.




Operating Revenues  
$ 39
$ 32
Operation and Maintenance 
16
11
Depreciation, Depletion and Amortization 
18
15
Taxes Other Than Income
3
2
Asset (Gains) and Losses, Net 
—
10
Operating Income (Loss) 
2
(6)
Other (Income) and Deductions
6
6
Income Tax Benefit 
(1)
(4)
Net Income (Loss) Attributable to DTE Energy Company 
$(3)
$(8)

Cash Requirements
We use cash to maintain and expand our electric and gas utilities and to grow our non-utility businesses, retire and pay interest on long-term debt and
pay dividends. We believe that we will have sufficient internal and external capital resources to fund anticipated capital and operating requirements. In 2013,
we expect that cash from operations will be $1.8 billion due to higher working capital requirements. We anticipate base level utility capital investments,
environmental, renewable and energy optimization expenditures and expenditures for non-utility businesses in 2013 of approximately $2.2 billion. We plan to
seek regulatory approval to include utility capital expenditures in our regulatory rate base consistent with prior treatment. Capital spending for growth of
existing or new non-utility businesses will depend on the existence of opportunities that meet our strict risk-return and value creation criteria.
35